GBPUSD attempts a rebound from 1.1500 as US recession fears escalate – by Sagar_Dua24 GBPUSD Fed GDP Brexit Inflation
US recession fears have inched higher led by higher inflationary pressures and aggressive policy tightening.
Analysts at Goldman Sachs noted that the chances of the US economy entering into a recession in the next year stand at 35%. The reasoning behind escalating recession fears is the extreme deviation in desired inflation target and current inflation rate, aggressive Going forward, investors will keep an eye on the outcome of the US mid-term elections. A majority win for Republicans could trigger political instability in the US economy and may impact gold prices. data will hog the limelight. On an annual basis, the GDP data is seen lower at 2.1% vs. the prior release of 4.4%. And, the quarterly regime is expected to display negative growth by 0.5% against an expansion of 0.2%.
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